IndiGo Block Deal Triggers ₹13,800 Crore Turnover; Shares Slip

A 3 per cent share value drop occurred for InterGlobe Aviation Ltd (IndiGo) during Tuesday's trading session while it experienced heavy turnover because of reports that the Gangwal family planned to reduce their holdings in India's leading airline. The stock dropped 4.49 per cent to reach Rs 5,230.50 on NSE which generated Rs 13,789.12 crore in turnover by 10.15 am. The stock of IndiGo has seen an 18 percent increase throughout 2025 to date and a 28 percent rise during the last six months.

The Nifty Next 50 stock was projected to undergo a block transaction exceeding Rs 6,800 crore with a minimum price set at Rs 5,175. The deal price represented a 4.5 per cent reduction from the closing price on Monday. Rakesh Gangwal together with The Chinkerpoo Family Trust were identified as the shareholders who sold the IndiGo share. A Reuters report states that Rakesh Gangwal executed a block deal to sell his 5.7 percent share in the low-cost carrier for approximately $1.36 billion. The report stated that the IndiGo shares were sold at Rs 5,230.50.

By March quarter end the Gangwal family held a 13.53 per cent ownership stake in IndiGo. MOFSL reported that IndiGo implemented a new operational strategy after Pieter Elbers became CEO in September 2022.

His 30-year career trajectory with KLM Royal Dutch Airlines enables him to provide IndiGo with essential industry expertise which plays a crucial role in allowing the airline to both compete against global competitors and expand IndiGo share price. The report pointed out that a potential ‘key man’ risk arises from this situation.

The airline IndiGo transports more than 100 million passengers yearly and increases its fleet by one airplane every week. During FY25 the airline grew its international market footprint by obtaining 30 per cent of its Available Seat Kilometers (ASK) from strategic partnerships with global airlines.